Schroders says short-term outlook is uncertain

RazakMusah

LONDON--Schroders PLC (SDR.LN) said Thursday that the short-term outlook for retail investor demand is uncertain, despite posting record results in the first half of 2014.

The global asset management company reported a net profit of 186.2 million pounds ($318.1 million) in the six months to June 30, compared with GBP174.2 million a year earlier on revenue that rose to GBP954.4 million from GBP815.6 million. Assets under management increased by 15% to GBP271.5 billion from GBP235.7 billion.

Chief Executive Michael Dobson said: "We have seen good inflows in July and we have a significant pipeline of business we have won in Institutional, which has not yet been funded. Our focus on delivering long-term value for shareholders is reflected in the 50% increase in the interim dividend."

The board declared an interim dividend of 24.0 pence per share versus 16.0 pence a year earlier.

Although Schroders has generated good levels of intermediary flows in July, the short-term outlook for retail investor demand is uncertain, the company said.

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